For several years, Deutsche Bank has maintained business relationships with convicted sex offender Epstein. According to media reports, the bank has now accepted a million-dollar comparison to settle a class action lawsuit.
Deutsche Bank has agreed to a $75 million settlement to settle a class action lawsuit over dealings with sex offender Jeffrey Epstein. This was reported by the Wall Street Journal and other US media, citing the plaintiffs’ lawyers.
The law firm Edwards Pottinger told the AP news agency that this is probably the largest amount of compensation paid by a bank in US history for sexual violence.
A US spokesman for Deutsche Bank declined to comment on the reports when asked, but referred to an earlier statement. “It was a mistake to take Jeffrey Epstein on as a client in 2013,” it said in a 2020 statement after the New York financial regulator fined the bank $150 million. The financial group has learned from the mistakes and deeply regrets the connection to Epstein, it said.
Profited from sex trafficking ring?
Epstein was convicted of underage prostitution in 2008. In 2019, he was again charged and arrested for further crimes against minors. Before the trial began, he committed suicide in prison in August 2019 at the age of 66.
Deutsche Bank has been accused of profiting from Epstein’s sex-trafficking ring deals. The bank is accused of knowing about the machinations but ignored evidence to continue doing profitable business with him.